Michael Long Leases Office Space To Marbella Med Spa At 37-44 82nd Street In Jackson Heights
37 44 82nd Street
Building Size
1,400 SF
Asset Type
Office
Closing
Mar 31, 2025
About this deal
AI
The property involved in this transaction is an office space located at 37-44 82nd Street in Jackson Heights. The asset encompasses a total area of 1,400 square feet with an asking rent of $60 per square foot. The lease agreement is structured as a modified gross lease for a term of 10 years.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60/ft
- Lease Term: 10 years
- Lease Type: Modified Gross Lease
- Landlord: Michael Long
- Tenant: Marbella Med Spa
- Landlord's Representative: Luca DiCiero, Faisal Gilani & Damian Dakas - NY Space Finders
- Tenant's Representative: Melissa Grasso - Sholom & Zuckerbrot Realty
The deal involves key representatives from NY Space Finders and Sholom & Zuckerbrot Realty, with Luca DiCiero, Faisal Gilani, and Damian Dakas representing the landlord, while Melissa Grasso represents the tenant in this lease transaction.
On the Map
Office
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Players
Jackson Heights Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93